Key Cryptocurrency Statistics
Top Cryptocurrency Apps
Finance App Market Landscape
Cryptocurrency Revenue
Cryptocurrency Revenue by App
Cryptocurrency Registered Users by App
Cryptocurrency Trading Volume
Cryptocurrency App Valuations
Cryptocurrency has been in development since the 1980s, but the launch of Bitcoin in 2009 by pseudonymous developer Satoshi Nakamoto was the first bit-currency to catch on outside of academic circles.
At its core, cryptocurrency is a decentralised digital currency, which is usually backed by a public ledger (blockchain) to verify transfers, mint new coins and secure individual coin ownership records.
For the first few years, Bitcoin enthusiasts mined the currency and tried to get it accepted by vendors. One infamous transaction involved Laszlo Hanyecz, an early adopter, spending 10,000 Bitcoins on a Papa Johns pizza. The value of that pizza today is over $500 million.
Its first use case was as a facilitator of online drug sales, through the Silk Road, a darknet market. It transacted more than $200 million of Bitcoin during its 30-month stint, before the owner of the website, Ross Ulbricht, was arrested by the FBI. After that, Bitcoin became the de-facto currency for dark web markets, as its peer-to-peer technology and strong cryptography made it difficult to track. Some of these markets have since moved to even more discreet coins, such as Monero.
Several developers utilised Bitcoin's code and proof-of-work algorithm to set up their own coins, including Namecoin and Litecoin.
Bitcoin continued to see its value grow as more people bought into the currency. Early exchanges such as Blockchain.com and Coinbase also offered the ability to easily trade and hold coins in wallets, instead of having to store them in secure hard drives.
Due to Bitcoin's rather overbearing size in comparison to the rest of the cryptocurrency market, it has been difficult for other alt-coins to receive the same recognition, with some conflating Bitcoin to be the entire cryptocurrency industry. Ethereum, launched in 2015, has managed to break the mould, through the creation of decentralized finance (DeFi) which can be added on top of applications.
Cryptocurrency has had many peaks and troughs, in early 2018 many thought Bitcoin was finished after the collapse of its value from $19,650 in December 2017 to $6,928 in March 2018. However, it has staged many comebacks, the most recent in 2024 when it surged past its peak price.
Several prominent names have backed Bitcoin and cryptocurrency in general, such as Elon Musk and Square CEO Jack Dorsey. Many financial institutions even invested in Bitcoin during the wave of hype and speculation in 2020 and 2021, but that investment has tamed since 2022.
As Bitcoin has little financial value outside of holding onto it, some financial analysts have decreed it the new gold. Several countries have looked to ban or limit cryptocurrency mining and trading, including China, which was before the ban the largest cryptocurrency market. Others have looked to build their own digital currencies, such as Estonia, Sweden and Japan.
We have collected data and statistics on cryptocurrency apps. Read on below to find out more.
Key Cryptocurrency Statistics
- Cryptocurrency exchanges generated $43.5 billion revenue in 2023, a 25% increase on the year prior
- Binance generated $16.8 billion in 2023, far ahead of other cryptocurrency exchanges
- In terms of users, Binance had the most with 200 million registered
- Binance had the highest valuation out of all exchanges at $60 billion, down from a peak $150 billion
Finance App Report 2024
Want to learn more about the finance app industry? In our Finance App report, we cover financials, forecasts, usage, downloads, demographics and benchmarking data.
